The theme behind the “green” property management track at the National Apartment Association 2010 Education Conference seemed to be benchmark, benchmark, benchmark then reduce, reduce, reduce = $ave, $ave, $ave!
The EPA’s Alyssa Quarforth reminded participants that utilities are the largest controllable cost, whether the property is master or directly-metered and that, among other things, benchmarking your assets through Portfolio Manager enables property managers to:
- Make more informed decisions
- Identify under-performing assets
- Set investment priorities
- Assess effectiveness of operations practices
- Track water consumption and costs
Improving energy efficiency can:
- Increase net operating income
- Raise asset value
- Provide a cushion against rising utility rates
- Keep your properties ahead of the curve with regard to legislation, competition and public demand
Scott Anderson, Director of Asset Management for TIAA-CREF Global Real Estate, offered a brief, yet compelling account of what can be achieved through benchmarking using Portfolio Manager and then instituting energy and water conservation measures.
Case Study #1: Garden Style, Phoenix, AZ
- Reducing the pool temperature from 82-78° saved $14,000/year
- Used CFLs and lighting controls such as motion sensors
- Where possible, installed programmable thermostats in common areas, leasing offices and model units
- Trained staff to look for inefficiencies
RESULT: 28% reduction in common area energy consumption
ANNUAL SAVINGS: over $50,000!!!
Case Study #2: High Rise, Chicago, IL
- Common area thermostats set 5° higher during the summer months
- Vacant units left unconditioned (no A/C)
- All staff trained to look for inefficiencies such as lights being left on
RESULT: 13% reduction in common area energy consumption
ANNUAL SAVINGS: over $60,000!!!
The managers of TIAA-CREF’s portfolio feel it is their fiduciary duty to operate their buildings as efficiently as possible. Think about that: their fiduciary duty.
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3 Comments
Our building does not meter individual apartments! We are conserving energy, though, by setting our a/c units between 77 and 80 degrees.
Hi Georgia,
Your building isn’t sub-metered or directly-metered for electricity but you’re conserving anyway? You have one lucky landlord!
Do you have issues with direct sunlight or where your unit is located within the building? What other conservation measure have you taken? Anything as it relates to water? — Kim
All windows face west so the apartment gets hot, great in the winter but sometimes oppressive in the summer. We keep the curtains drawn for much of the day (11 am – 7 pm, approximately). We use power strips so are able to reduce “ghost” energy use that way.
In terms of water, we tend to run the dishwasher only when it is full. We take short showers, rarely take baths.
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